Georgian President Salome Zourabichvili on Thursday vetoed the amendments to the organic law On the National Bank of Georgia (NBG) as “they are neither necessary, urgent nor reasoned!”
In her recent statement, the President stressed the addition of a third NBG vice-presidential post “raises doubts ”.
According to the amendments registered in the Parliament on February 1, the First Vice President will be added to the three existing Vice Presidents of the Bank, who will deputize for President in the event of the latter’s absence. Previously, one of the three Vice-Presidents had performed the duties of the President. In addition, the number of executive members in the board will be increased from four to five.
In this regard, the former Governor of the National Bank, Roman Gotsiridze, said that the president's veto needs to be overcome, while visiting BMGTV, he explained that after the veto, the parliamentary majority must once again justify why the mentioned changes were necessary.
"The president's veto is a serious political act that needs to be overcome. The parliamentary majority should be stubborn and adopt this law again. They once again must try to justify why this is done and then raise these topics again. The IMF will also pay attention to this. Because the IMF issued a very harsh and critical statement. Such a statement is rarely made. The Monetary Fund is the organization on which the fate of the national currency depends. Its statement is followed by investors and it gives a signal of macroeconomic stability in the country and then determines the trend of economic development in the country", said Gotsiridze.
